Why Sarepta Therapeutics Inc Stock is Sliding Today

Sarepta Therapeutics Inc (NASDAQ:SRPT) stock was hit hard today after reports claim one of its studies was put on hold.

Why Sarepta Therapeutics Inc Stock is Sliding TodayAccording to these recent reports, Sarepta Therapeutics Inc had to put its Essence study on hold in the U.K. The reason given is that there was “one serious adverse event” that may be connected to the drugs still in testing.

The hold on the project reportedly started last week and Sarepta Therapeutics Inc has been unable to resume testing due to certain rules in the U.K. However, the trail is still progressing forward in other countries.

It also still isn’t clear which drug in the Essence trial may be responsible for the adverse event. The trail patients are split into groups that are receiving two different treatments. One is giving patients golodirsen and the other has them on project SRP-4045, reports EP Vantage.

The Essence study that was put on halt is for treating Duchenne muscular dystrophy in boys that are amenable to skipping exon 53 due to their genes. Sarepta Therapeutics Inc is already looking to get the study back underway and is asking the U.K. for permission to continue forward.

Sarepta Therapeutics Inc has been hopeful about the potential it saw in early trial results last fall. There was even talk that the drugs may be a target to receive fast-track approval from the government for treating the illness.

SRPT stock was down 7% as of noon Friday, but is up 1% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2018/02/sarepta-therapeutics-inc-stock-down/.

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